I want to take a comprehensive fire policy for my office (3,000 square feet). How much will it cost and for how many years will the policy remain valid?
– Ashwini Pandey
If you want comprehensive fire policy for your office, you can look at office package policy. Such policies are designed to cater to all insurance requirements of an office such as cover against fire and allied perils for both building and contents, burglary and robbery, business interruption due to fire, electronic equipment breakdown, public liability, etc. The premium charged is ratable and based on the coverages offered and sum insured opted for. The policy, being annual, shall remain valid for a period of one year.
What does insurance for mobile phone cover? Is it necessary to take one?
– Alok Ranjan
Mobile insurance provides cover against damages to the internal workings of the phone due to water spillage, fire, hardware failure, damage due to malicious intent, loss of mobile due to theft, screen cracks, etc. It is advisable to buy mobile insurance if you have an expensive mobile phone or have lost or broken your previous smartphones. Depending on the policy you take, you can get a replacement for your stolen or damaged smartphone.
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I forgot to pay my health insurance premium which was due in March this year. Will I lose the benefits of the policy and do I have to buy a new cover?
– Harit Kumar
For renewal under health insurance policy, 30 days grace period is allowed wherein all accrued continuity benefits are passed on to the insured. If there is a gap of more than 30 days for renewal, then policy shall be considered as a fresh policy and shall be liable for underwriting consideration. However, you can check with your insurer if the continuity can be considered based on the continuity under the policy, previous claim history and current health status.
The writer is MD & CEO, Universal Sompo General Insurance. Send your queries to firstname.lastname@example.org